The Yugoslavian M49 (Model 1949) submachine gun at first glance appears to be a clone of Soviet PPSh-41 submachine gun. On close examination. however, there are more than a few differences between those two guns, with some features (most notably the bolt group and safety) being taken from Italian Beretta M38A submachine gun. It must be noted that M49 had apparently a relatively short service life, being replaced by the latter M56 submachine gun, which was more compact and of slightly more modern design.

M49 submachine gun is blowback operated, selective-fire weapon which fires from open bolt. The trigger unit with fire selector lever, located inside trigger guard, is copied from Soviet PPSh-41. The bolt group, with return spring enclosed in tubular guide, is a derivative of Beretta M38A, and the cross-bolt safety, located in front of trigger guard, is copied from Beretta M38/49, although the location of button is slightly different. The basic layout with wooden stock and shrouded barrel is also similar to PPSh-41, although the barrel shroud and receiver are made from steel tubing rather than stampings. The disassembly procedure is different, as M49 is disassembled by screwing off the rear cap of receiver and then pulling the bolt group out of the receiver. The bolt system incorporates a separate spring buffer, and because of it, and slightly longer receiver, rate of fire for M49 is somewhat less than of PPSh-41. The feed system, along with folding magazine release lever, is similar to Soviet prototype, but M49 were issued only with 35-round curved box magazines and no drums.